UPA government govt 'looting' common man: Yechury

"The fiscal deficit is running into crores but instead of tackling it the government has given tax relief worth Rs 5.28 lakh crore to the rich", Yechury said.

He accused the government of giving freebies to private companies and businessmen while putting the entire burden of the deficit on the poor.

"This money could have been used to generate employment and lessen the tax burden on the common man, but government has given fiscal relief to corporates, and is trying to recover the deficit from common man with diesel price hike and cap on LPG subsidy", Yechury said.

The 2G scam cost the nation Rs 1.76 lakh crore, a sum which could have been used to develop infrastructure necessary under Right to Education Act, he said.

Claiming that India has sufficient resources but the government is wasting it away, Yechury sid FDI in retail will prove to be calamitous as 20 crore Indians will face food shortage and people would lose jobs.

He said, for optimum use of resources, it is necessary to change policies and for that a new government was needed.